fortune 500 ceos by gendersales compensation surveys
The New CEOs: Women, African American, Latino, ad Asian American Leaders of Fortune 600 Companies. According to a 2010 publication by the BLS (Bureau of Labor and Statistics), 24% of CEOs in the US were women. Unexpected tallies. [21] See, for example, Ruth Hill Useem, 1966, "The American Family in India," The Annals of the American Academy of Political and Social Science, 368 (1), 132-145; https://doi.org/10.1177/000271626636800113. Offers may be subject to change without notice. Calendly hired Asana's Jessica Gilmartin as CMO. Today, the tech industry largely remains a boys club; only about 14% of US startups have a female CEO. They also found that when they were replaced, women and minority CEOs were especially likely to be replaced by white males (which they call the "savior effect").[35]. The number of women in the House rose from 101 in 2019 to 118 in 2021 (that is, from 23.2% to 27.1%), and in the Senate it dropped from 26 to 24. Here's what the 2023 Fortune 500 reveals about CEO colleges. In-group/out-group bias. A record number of Black CEOs are leading Fortune 500 companies after Dave Bozeman took over C.H. According to Fortune, the following is the list of the top 10 highest-paid female CEOs of 2021 and their companies: Despite progress over the last two decades, women face significant obstacles in advancing and remaining in executive positions. In nine empirical studies, using a variety of methods and samples, they looked especially at three possible explanations for why this "bamboo ceiling" seemed to affect East Asians much more than South Asians. [9] Carten Cordell. For example, Christine Leahy, CEO of CDW (#178 in 2020), played lacrosse and field hockey at Brown, and 6'2" Gail Boudreaux, the CEO of Anthem (#29), was an all all-Ivy League basketball player three years in a row at Dartmouth and won four straight Ivy League shot put titles. This is a list of Women CEOs of the Fortune 500, based on the magazine's 2022 list (updated yearly). . Her name then was Geisha Jimenez the name Geisha came from a John Wayne movie that her parents liked, "The Barbarian and the Geisha." See also: Sapna Maheshwari, 2020, "Tapestry CEO resigns, acknowledging past relationship," New York Times, July 21 (https://www.nytimes.com/2020/07/21/business/tapestry-jide-zeitlin-resigns.html); and William Cohan, 2020, "The bizarre fall of the CEO of Coach and Kate Spade's Parent Company," Pro Publica, July 22 (https://www.propublica.org/article/the-bizarre-fall-of-the-ceo-of-coach-and-kate-spades-parent-company). None of the 13 East Asian CEOs has led a company in the top 100 (the East Asian CEO who led the highest-ranking Fortune company was Richard Hamada, CEO of Avnet from 2011 through 2016 it was #132 in 2011, and #102 in 2016). A Division of NBC Universal. Burns grew up in the projects, the daughter of a single mother who took in ironing. Are white women and people of color more likely to have made it to the top of the corporate world or through the electoral process? As can be seen in the far-right column of Table 1, the number of white women and people of color appointed each year gradually increased to a peak in 2011, when there were 13, and then to another slightly higher peak in 2019, when there were 17. Wat, however, grew up in real poverty. Quantic School of Business and Technology is licensed by the District of Columbia Higher Education Licensure Commission in Washington, DC and accredited by the Distance Education Accrediting Commission (DEAC). So, too, are there Latinx CEOs who appear to have had middle class backgrounds (their parents were in the military, were teachers, were secretaries or accountants) and among the Latino CEOs are some stories of dramatic journeys up the socioeconomic ladder. In one of the most comprehensive studies of what they call "glass cliff theory," Alison Cook and Christy Glass looked at all CEO transitions over a 15-year period. Now, like those in that second wave, many of the women in this newest group make clear that having been on teams, or at least being fit, is important to them. Six were born in Spain, five in Cuba (three more were Cuban Americans born in the USA), three in Argentina, three in Mexico, two in Venezuela, two in Brazil, two in Puerto Rico; other countries of origin include Chile, Colombia, Costa Rica, and Morocco. Ford and her wife, Jill Schurtz (a West Point graduate, and a lawyer), are raising three teen-age daughters. Experience, exposure, and an MBA education go a long way towards climbing the corporate ladder. In 1986, Gerald Tsai, a Chinese American, became the CEO of American Can. That is, she was not Jewish when Jide was growing up Arnold and Marian divorced in 1977 when Jide was 13 years old, and she later converted to Judaism. According to Fortune, the top CEOs earned an average of $12.3M as of 2020. When the Washington Postmade theFortune500 list in 1972, she became the first woman CEO of aFortune 500 company. One of the African-American men, James Bell at Boeing in 2005, was an interim appointment who served for less than a year (#25 in 2005). Language links are at the top of the page across from the title. [30], As part of the research for the 2011 edition of The New CEOs, we looked up the leadership teams of a sample of companies on the Fortune list, companies selected from throughout the Fortune 500, because we knew from previous research that the larger companies were more likely to have promoted diversity within their ranks than the smaller companies. A record number of 41 women are leading Fortune 500 companies today, according to Fortune's latest list. His father was a janitor in Philadelphia. In our larger project, in which we have looked at diversity in the power elite, we also have tracked diversity in the political elite, and this has included especially the executive branch, but also both the Senate and the House of Representatives. There has been considerable debate and disagreement among scholars and political activists about what general name, if any, should be used to characterize a group whose main common heritage is the Spanish conquest and the Spanish language. Seven of the nine were born outside of the USA, and the other two were first-generation Japanese Americans born in this country. Subscribe here. In 2019, the compensation of the CEOs at the top 350 firms averaged $21.3 million, an increase of 14% from 2018. Lanham, MD: Rowman & Littlefield, pp. This Fortune 500 CEO Is Obsessed With Gender ParityBut She Still Hasn't Achieved It. The first was Ursula Burns, the CEO of Xerox, from 2009 to 2016 (Xerox was #147 in 2009, and #150 in 2016). Black CEOs Reach Another Record High On Fortune 500 List The longest time in office was Indra Nooyi, CEO at Pepsico for twelve years, and Rajiv Gupta, the CEO of Rohm and Haas, for ten years, from 1999-2009 (#409 in 1999, #281 in 2009). See Raquel Reichard. CGRP-82, Available at SSRN: https://ssrn.com/abstract=3587498, [35] Alison Cook and Christy Glass. The Fortune 500 has the highest number of companies with female CEOs ever, but women still have a long way to go for equal representation. George Soross foundation cuts 40% of staff just 1 month after 92-year-old billionaire handed his empire over to his Harvard slapped with lawsuit over legacy admissions: Your familys last name and the size of your bank account are not Elon Musk sends fired Twitter employees to arbitration, then he just doesnt show up, new lawsuit claims, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. This indicates that about 91% of Fortune 500 CEOs are male. Jennifer A. Parmentier took over the motion and control technologies business Parker-Hannifin. Dreams do come true, but not without the help of others, a good education, a strong work ethic, and the courage to lean in. Ursula Burns, former CEO of Xerox. [12] The first was Cuban-born Geisha Williams, who became CEO at PG&E in March 2017 and held that position until the end of 2018 (#157 in 2017, #168 in 2018). Andrea Jung, a Chinese American born in Canada, was the CEO of Avon from 1999 through 2012 (Avon was #308 in 1999, and #234 in 2012). Women, women of color, women born outside of the United States, and LGBTQ+ women are underrepresented. 25 Women In Leadership Statistics [2023]: Facts On The Gender - Zippia The added diversity to this year's list, according to Fortune, occurred as a result of executive leadership changes at different companies, new businesses gaining revenue growth that meets the $5.37 billion threshold and older businesses falling off as a result of their revenue shrinking. The average Fortune ranking for the South Asians has been 239, and the median ranking has been #242. Six were CEOs of Fortune 100 companies, including LaGarta, Nooyi's replacement at Pepsico, Enrique Lores, who became CEO at Hewlett Packard (#55 not to be confused with Hewlett Packard Enterprises, which was #109) in 2019, and Juan Luciano who became CEO at ADM in 2015 (#34 in 2015, #54 in 2020). The problem is that men occupy most boardrooms and leadership positions. BY Christiaan Hetzner. The virtual summit gained the attention of global leaders and changemakers like former U.S. First Lady Michelle Obama, Meghan Markle, the Duchess of Sussex, and Facebook COO and Lean In Founder Sheryl Sandberg. Only 2% of startups with all-male founding teams have a female CEO. In addition, in this paper I'll compare these 151 New CEOs who have made it to the top of these giant, very hierarchical, corporations, with the similarly "new" members of Congress, the white women and people of color who have been elected to the Senate and the House. Strategic Management Journal, 35 (7), 1080-1089; https://doi.org/10.1002/smj.2161, [36] Scott DeCarlo and Anne Vandermey. In 2020, 7 of the 10 new appointments were white women. They found support for the "glass cliff" effect: women and men of color were significantly more likely than white men to have been appointed as CEOs at companies with weak performances. I made a mistake in having a relationship with this woman and I dealt with that in my personal life at the time."[3]. - Family business. Although Clifton Wharton, an African-American man, was the CEO of TIAA from 1987-1992, TIAA did not make the Fortune list until 1998, when he no longer was CEO. Fortune 500: 7 in 10 Senior Executives Are White Men | Fortune The five African-American CEOs in office in 2020 reveal the varied socioeconomic backgrounds that can lead to these positions, but also the importance of education. So, too, do these concepts apply to Dara Khosrowshahi, whose wealthy family left Iran for France and then USA, who attended the Hackley School and then Brown and Harvard, or Nazzic Keene, who spent her first five years in Libya but then spent much of her childhood in Tucson, Arizona. One such course is the Quantic MBA program. Both women, who are now leading two of the largest pharmacy store chains in the country, have played a critical role in helping to effectively roll out the Covid-19 vaccine. Sen's father was a highway engineer. Three of the four women come from privileged or relatively privileged backgrounds. Here's Why Flex CEO Revathi Advaithi Business Wire/AP By Joann S. Lublin March 5, 2023 9:00 AM EST In. Catalyst places a high value on an individual's freedom to self-identify and understands that, outside of this self-identification, there will be difficulty in precisely verifying an individual's race, ethnicity, and . Of those females, 85% of them were white. Corie Barry, Best Buy Co., Inc. After ten years with Sun Microsystems, and six years with Ford Motor Company, she went to work for Gap in 2014. Tennis star Naomi Osaka, 25, announced yesterday that she is pregnant with her first child. Excluding those who were still in their positions in 2020, the other 24 Latino CEOs were in their CEO jobs for an average of 5.7 years. In 2021, only 8.2% of Fortune 500 CEOs were female. "It would be a really sad state if we get there," Burns says. Still, the white men, who make up about 35% of the population, continue to be very much over-represented, and the gap between them and the new CEOs is still immense. There just arent enough women in powerful positions. The results can be seen in Table 2, below. Only the South Asian CEOs in my sample had an average tenure longer than the average tenure for CEOs which, according to Fortune magazine, was 6.9 years in 2015. As we showed in an empirical study that used the photographs of white, African-American, Asian-American, and Latinx CEOs, published as an appendix in The New CEOs, Kyle Riplinger and I found that college students rated the photos of the Latino Fortune 500 CEOs as much closer in skin color to the whites than to the Asians or African-Americans. [38] Follow-up studies they performed indicated that evaluators perceived East Asian CEOs as more likely than white men to be self-sacrificing and believed that they were more likely to be effective in periods of decline than periods of success. 448, Sheryl Palmer from Taylor Morrison Home joined the list at No. Toggle the table of contents. The majority indicated that they thought of themselves as "Mexicans," "Puerto Ricans," "Cubans," or whatever their country of family origin.[17]. 1999. In 1981, when he became the CEO at Coca Cola (#56 on the list that year), Cuban-born Roberto Goizueta became the first Latino CEO of a Fortune 500 company. Muhtar Kent is a Turkish American born in New York City when his father was the Turkish consul-general. With this system, workers advance their education and skills while companies retain their workers, albeit part-time. Another consideration is that skin color may affect whether a person is perceived as not white. Ultimately, he revealed his actual identity to her, and the relationship ended. Plus, Quantics program gives you access to a network of employers, mentors, and investors thats sure to speed up your career growth. In 2018, Donte Robinson and Rashon Nelsontwo Black menwent into a Starbucks Philadelphia store for a business meeting. A few mention that they love scuba diving and at least one is a "certified" scuba diver (Tricia Griffith, CEO of Progressive, #86 in 2020). But now, 20 years later, the new CEOs are not so new, and there are enough of them that it is possible to step back and look at the patterns that have emerged over these two decades. The final sample of twenty-five companies included such well-known names as Bank of America, General Electric, MasterCard, Staples, Verizon, and Western Union.[31]. Most women today still take care of household duties, even when working a full-time job. Kay Granger (R-Texas), Virginia Foxx (R-N.C.), and Cathy McMorris Rodgers (R-Wash.)were assigned such roles. Tech is an incredible force that will change our world in ways we cant anticipate. During this time, she introduced AdSense and was in charge of Google Videos when a free video-sharing website caught her attention: YouTube. Some have worked at the largest companies in the Fortune 500 (for example, Mary Barra, who has been CEO of General Motors since 2014, Carly Fiorina, who was CEO at Hewlett Packard from 1999-2005, and Virginia Rometty, CEO at IBM from 2012 through April 2020) and others at the smallest companies. Mary T. Barra, General Motors Company. Ten percent club. If we don't count Bell, the interim appointment, or the five African-Americans still in office in 2020, the 12 African-American male CEOs were in office for an average of 5.8 years (about the same as the white women), with a range from Chenault's 16 years to Lloyd Ward, who lasted at Maytag for a little over a year, from August 1999 through November 2000. MOVERS AND SHAKERS: NBC News announced a management shakeup, naming Rebecca Blumenstein, a top New York Times editor, as its new president of editorial and promoting Libby Leist to executive vice president of Today and lifestyle and Janelle Rodriguezto EVP of streamer NBC News Now. That's the good news. "The rise and fall of diversity at the top: The appointments of Fortune 500 CEOs from 2005 through 2015," Who Rules America? Here's what those employees say it's doing right. 2014. In 2004, Michelle Ryan and Alexander Hasslam, two British academics, coined the term "glass cliff" to refer to their findings that women who had been appointed as CEOs were more likely than men to have taken over companies that had experienced especially poor performances during the previous months. Similarly, in a 2018 archival study of 4,951 CEOs across five decades that builds on glass cliff theory, Gundemir, Carton and Homan found that East Asian-American CEOs were much more likely than white male CEOs to be appointed during periods of decline. BY Paige McGlauflin and Trey . As can be seen in Figure 1, the slow increase in new CEOs, from a total of 19 in 2000 to 71 in 2020, has been accompanied by a corresponding steady decrease in the number of white male CEOs. To continue to improve the slow, but steady progress of women in the C-suite, Hariton says establishing "clear targets and measurements to increase representation throughout the senior leadership and CEO pipelines" could be a solution. 2019. [20] Emma Jacobs. Jung's father was an architect, and her mother was chemical engineer (and a pianist). How Many Fortune 500 CEOs Are women? Naomi Naik, a Girl Up Communications & Digital Media Associate, helped in adapting the global leadership summits of Girl Up, a leadership development movement that engages, trains, and mobilizes girls around the world to take action to achieve global gender equality, from in-person events to virtual ones due to the COVID-19 pandemic. Wojcicki attained an MBA from UCLA Anderson School of Management and a masters degree in economics. With this appointment, Ford became the second openly gay Fortune 500 CEO, Tim Cook of Apple having been the first when he came out as a gay man in October 2014 (#5 in 2014, #4 in 2020) In April, 2019, James Fitterling became the third, and the first male board-appointed out CEO when he became CEO at Dow (#78 in 2020). Many are married to high-powered executive husbands, but notably, some have reported that their husbands gave up careers to take care of the children. After five years in Pakistan, and three years in the Philippines, Marian was accepted into a PhD program at MIT in biochemistry, and Jide moved with the family to Cambridge, MA. After leading one of its companies, Old Navy, she became the CEO in March 2020 (#199 on the Fortune list). Another metric that helps reveal the long-term patterns is the number of new Fortune 500 CEOs appointed each year (as opposed to the number who were in office in a given year). Create a free account and access your personalized content collection with our latest publications and analyses. [32] Richard L. Zweigenhaft and G. William Domhoff. After putting herself through college, including work as a bartender, she took a job with Electronic Data Systems Corporation. 2015. [31] See Zweigenhaft and Domhoff. An October 2022 study published by McKinsey pointed out that despite modest progress in acquiring higher positions in top companies, women are dramatically under-represented in . 2020. For example, Charles B. Wang, born in Shanghai in 1944, founded Computer Associates International in 1996, Jerry Yang, born in Taiwan in 1968, was the co-founder of Yahoo, Robert Huang, born in 1945 in Taiwan, founded Synnex, and Jen-Hsun ("Jensen") Huang, born in 1963 in Taiwan, founded Nvidia.
